Fastenal’s Double-Digit DSR Development Carries into This fall

Fastenal reported its October gross sales outcomes on Nov. 6, which confirmed continued double-digit month-to-month positive factors each general and throughout every of the distributor’s finish markets.

The Winona, MN-based industrial and development provides firm posted whole October gross sales of $771 million that grew 11.3% year-over-year each general and on a every day gross sales foundation. 

Premium: Fastenal Gross sales Momentum Carries via September because it Leans Extra into Fasteners, Key Accounts (Oct. 13)

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The Large Image

• That October every day gross sales charge (DSR) outpaced September’s 10.2% and was Fastenal’s fourth straight month of double-digit progress. It additionally topped the 11.1% estimate from Baird’s Industrial Distribution Fairness Analysis unit.
• October every day gross sales accelerated throughout all geographies
• Fastenal noticed a modest DSR deceleration in its largest finish market — Heavy Manufacturing — whereas Different Manufacturing, Non-Residential Development and Different accelerated
• Sturdy progress continued throughout all 4 of the corporate’s product classes — Fasteners, Security and Different — with a DSR deceleration in Fasteners and Security whereas Different accelerated
• By buyer class, progress accelerated each in Fastenal’s high 100 nationwide accounts and in-market areas 

“Internet, August was a bit softer than our extra aggressive view however nonetheless indicative of sturdy share positive factors in a lackluster backdrop through inside momentum from company-specific initiatives,” Baird wrote in an analyst notice.

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“Past the close to time period, we proceed to imagine FAST is rising every day gross sales low-double-digits over the remainder of 2025 and 2026 even assuming simply regular sequentials, with accelerating company-specific momentum,” Baird wrote in an analyst notice. “We proceed to imagine near-term contribution margins which can be in the direction of the excessive finish of normalized 20-25% ranges (~23-24%) -— aided by pricing.”

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MDM’s Take

Fastenal is the one publicly traded industrial distributor that shares a month-to-month gross sales report, which might make it a great barometer for the general well being and demand standing for the commercial provides/MRO/development markets it serves. With October’s report displaying sustained sturdy every day gross sales progress into This fall and throughout every of the corporate’s three broad product classes, it seems to point lasting momentum for Fastenal. Nonetheless, a lot of this latest progress ought to be seen as Fastenal-specific quite than illustrating underlying demand momentum, given the corporate’s latest pricing actions and broader enterprise technique. In its Q3 financials, the corporate famous a pricing impression that grew 240-270 foundation factors year-over-year, which was decrease than it anticipated, however Fastenal famous that “pricing actions proceed to progress.” On the time of that Q3 report on Oct. 13, the corporate stated that market situations remained sluggish, offering minimal contribution to gross sales progress.

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Go Deeper

Right here’s the breakdown of Fastenal’s October 2025 gross sales report and the way every metric in contrast with September:

October Each day Gross sales by Geography, Yr-Over-Yr:

• United States – 83.3% of gross sales: +11.1% (+10.8% in Sept)
• Canada/Mexico – 13.3% of gross sales: +9.9% (+4.5% in Sept)
• Remainder of World – 3.4% of gross sales: +22.7% (+20.5% in Sept)

October Each day Gross sales by Product Line:

• Fasteners – 30.6% of gross sales: +12.8% (+15.1% in Sept)
• Security – 22.0% of gross sales: +8.9% (+7.2% in Sept)
• Different – 47.4% of gross sales: +11.6% (+8.6% in Sept)

October Each day Gross sales by Buyer Finish Market: 

• Heavy manufacturing – 42.9% of gross sales: +11.5% (+11.8% in Sept)
• Different manufacturing – 32.4% of gross sales: +13.2% (+11.8% in Sept)
• Non-residential development – 8.4% of gross sales: +10.9% (+5.7% in Sept)
• Different – 16.3% of gross sales: +7.3% (+5.1% in Sept)

October Each day Gross sales by Buyer Class: 

• Contract clients: +13.0% (+11.0% in Sept)
• 66.0% of High 100 nationwide accounts had been rising (64.0% in Sept)
• Non-contract clients: +6.0% (+8.0% in Sept)
• 63.9% of in-market areas had been rising (62.9% in Sept)
• FMI: +17.0% (+17.0% in Sept)
• eBusiness: +6.0% (+5.0% in Sept)

October Headcount

Fastenal ended October with a complete headcount of 24,539 — a 0.4% uptick from September and up 3.8% year-over-year. Full-time promoting personnel headcount ended October at 15,450 — up 0.2% from September and up 3.1% year-over-year.